Patten & Patten Inc. TN Sells 217 Shares of Duke Energy Corporation $DUK

Patten & Patten Inc. TN reduced its position in Duke Energy Corporation (NYSE:DUK) by 0.3% during the second quarter, HoldingsChannel reports. The firm owned 62,895 shares of the utilities provider’s stock after selling 217 shares during the period. Patten & Patten Inc. TN’s holdings in Duke Energy were worth $7,422,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Activest Wealth Management boosted its stake in shares of Duke Energy by 98.1% in the 1st quarter. Activest Wealth Management now owns 212 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 105 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Duke Energy in the 1st quarter valued at $27,000. Wayfinding Financial LLC bought a new stake in shares of Duke Energy in the 1st quarter valued at $27,000. Mascoma Wealth Management LLC boosted its stake in shares of Duke Energy by 53.7% in the 2nd quarter. Mascoma Wealth Management LLC now owns 249 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 87 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC boosted its stake in shares of Duke Energy by 360.0% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 253 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 198 shares during the last quarter. 65.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DUK has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Duke Energy from $132.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Jefferies Financial Group downgraded shares of Duke Energy from a “buy” rating to a “hold” rating and dropped their target price for the company from $141.00 to $134.00 in a research report on Friday, September 26th. Evercore ISI initiated coverage on shares of Duke Energy in a research report on Monday, October 6th. They set an “outperform” rating and a $143.00 target price on the stock. The Goldman Sachs Group set a $132.00 target price on shares of Duke Energy in a research report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Duke Energy from $127.00 to $131.00 and gave the stock a “neutral” rating in a report on Thursday, August 21st. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $135.50.

Duke Energy Stock Performance

DUK opened at $128.73 on Thursday. Duke Energy Corporation has a 1-year low of $105.20 and a 1-year high of $128.99. The company has a current ratio of 0.66, a quick ratio of 0.42 and a debt-to-equity ratio of 1.55. The company has a market cap of $100.10 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 3.08 and a beta of 0.44. The company’s fifty day moving average price is $123.24 and its two-hundred day moving average price is $120.04.

Duke Energy (NYSE:DUK) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.04). Duke Energy had a return on equity of 9.85% and a net margin of 15.51%.The firm had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the previous year, the company earned $1.18 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. Duke Energy has set its FY 2025 guidance at 6.170-6.420 EPS. On average, analysts expect that Duke Energy Corporation will post 6.33 EPS for the current fiscal year.

Duke Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be paid a $1.065 dividend. The ex-dividend date is Friday, November 14th. This represents a $4.26 annualized dividend and a dividend yield of 3.3%. Duke Energy’s dividend payout ratio is presently 69.27%.

Insider Buying and Selling at Duke Energy

In other news, EVP Thomas Preston Jr. Gillespie sold 6,700 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $124.26, for a total value of $832,542.00. Following the completion of the sale, the executive vice president owned 46,422 shares in the company, valued at $5,768,397.72. This represents a 12.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Bonnie B. Titone sold 2,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $124.38, for a total transaction of $248,760.00. Following the transaction, the senior vice president owned 19,608 shares of the company’s stock, valued at approximately $2,438,843.04. The trade was a 9.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Duke Energy Company Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.